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Pelatro PLC - London-based marketing software specialist - Says recent contract wins show its continuing success in securing pacts with large customers, building its recurring revenue base. With these, says it now has 28 customers and an annual recurring revenue of over $7 million. Additionally, says it continues to see strong demand from ‘our existing customers for change requests and have contracted for around $1.7 million already this year in respect of this revenue’. Looking ahead, says its pipeline remains strong at about $23 million with around $5 million being non-telco prospects, which is the ‘highest ever level’. Confident that it will produce results in the coming months and years. Last month, Pelatro said its pretax loss widened in 2022 to $13.9 million from $666,000 a year prior. Revenue fell by 26% to $5.4 million from $7.3 million the year before. Current stock price: 8.84 pence each, up 14% on Friday morning in London 12-month change: down 68% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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